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Goldman plans 9%-14% contingent coupon callables tied to three indexes
By Susanna Moon
Chicago, Aug. 7 – GS Finance Corp. plans to price callable contingent coupon notes due Aug. 31, 2028 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate if each index closes at or above its 75% coupon barrier on the observation date for that quarter. The contingent coupon will be 9% for the first 20 payment dates, stepping up to 14% for the final 20 payment dates.
The notes are callable at par on any interest payment date after six months.
The payout at maturity will be par unless any index closes below its 50% trigger level, in which case investors will be exposed to any losses of the worst performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
The notes will price on Aug. 29.
The Cusip number is 40055QRX2.
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